Eagle Bancorp (NASDAQ:EGBN) Upgraded at StockNews.com

StockNews.com upgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

Eagle Bancorp Stock Up 0.4 %

Shares of Eagle Bancorp stock opened at $20.52 on Tuesday. The firm has a market capitalization of $614.16 million, a PE ratio of 6.22 and a beta of 1.02. Eagle Bancorp has a 12-month low of $16.72 and a 12-month high of $31.97. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.08. The stock’s fifty day moving average is $22.79 and its 200-day moving average is $24.05.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.09). The business had revenue of $75.89 million for the quarter, compared to analyst estimates of $75.67 million. Eagle Bancorp had a net margin of 15.54% and a return on equity of 8.12%. Equities analysts anticipate that Eagle Bancorp will post 2.32 earnings per share for the current year.

Eagle Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, April 18th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 8.77%. The ex-dividend date is Wednesday, April 17th. Eagle Bancorp’s payout ratio is 54.55%.

Insider Activity at Eagle Bancorp

In related news, EVP Lindsey S. Rheaume sold 22,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $22.98, for a total transaction of $505,560.00. Following the transaction, the executive vice president now directly owns 9,075 shares of the company’s stock, valued at $208,543.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EGBN. Riverview Trust Co purchased a new position in Eagle Bancorp in the first quarter valued at about $26,000. Lazard Asset Management LLC purchased a new position in Eagle Bancorp in the third quarter valued at about $26,000. Belpointe Asset Management LLC grew its stake in Eagle Bancorp by 320.5% in the first quarter. Belpointe Asset Management LLC now owns 820 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 625 shares in the last quarter. Versant Capital Management Inc grew its stake in Eagle Bancorp by 1,910.2% in the fourth quarter. Versant Capital Management Inc now owns 985 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 936 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Eagle Bancorp in the third quarter valued at about $32,000. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.